Bank of Lithuania securities lending under the asset purchase programmes
Seeking to support bond and repo market liquidity, the European Central Bank (ECB), together with other Eurosystem national central banks, lends securities purchased under the Public sector purchase programme (PSPP) and Pandemic emergency purchase programme (PEPP). The Bank of Lithuania's PSPP and PEPP holdings are available for lending via securities lending agents or under the so-called fails mitigation programme.
Securities lending via agents
Lending of securities holdings takes place on a cash neutral basis, by entering into repo and reverse repo transactions. The Bank of Lithuania lends selected securities via its lending agent – Deutsche Bank AG – under the terms and conditions determined by the Bank of Lithuania.
Main terms and conditions of transactions:
- Pricing – no less than 5 basis point spread between the interest rates on repo and reverse repo transactions.
- Term – up to 97 calendar days.
- Valuation haircut – 4 per cent, applicable to securities on repo or reverse repo transactions.
- Eligible collateral – PSPP and PEPP -eligible securities with a minimal rating of A– and a maximum remaining maturity of 15 years.
- Borrowing limits – up to 2.5 per cent of the amount outstanding of a single issue for an individual counterparty, with a maximum of EUR 200 million for any such issue and a maximum nominal ticket size of EUR 50 million.
To become an eligible counterparty, please contact Deutsche Bank AG ([email protected]).
Fails mitigation programme
The Bank of Lithuania, as a lender of securities purchased under the PSPP and PEPP, participates in the fails mitigation programme (Securities Lending and Borrowing Programme) of Euroclear Bank SA/NV, an international central securities depository. The terms and conditions of the programme are the standard conditions defined by Euroclear Bank SA/NV. For further information, please contact Euroclear Bank SA/NV directly.
Securities available for lending via agents or under the fails mitigation programme:
|XS1020300288||Government of Lithuania||3.375||22/01/2024|
|XS2168038417||Government of Lithuania||0.250||06/05/2025|
|XS1310032187||Government of Lithuania||1.250||22/10/2025|
|XS1130139667||Government of Lithuania||2.125||29/10/2026|
|XS1619567677||Government of Lithuania||0.950||26/05/2027|
|XS2013677864||Government of Lithuania||0.500||19/06/2029|
|XS2168038847||Government of Lithuania||0.750||06/05/2030|
|XS1310032260||Government of Lithuania||2.125||22/10/2035|
|XS1619568139||Government of Lithuania||2.100||26/05/2047|
|XS2013678086||Government of Lithuania||1.625||19/06/2049|
|XS2210006339||Government of Lithuania||0.500||28/07/2050|
|XS2364754411||Government of Lithuania||0.750||15/07/2051|
|EU000A1Z99G8||European Stability Mechanism||0.000||17/01/2022|
|EU000A1U9985||European Stability Mechanism||0.000||18/10/2022|
|EU000A1Z99E3||European Stability Mechanism||0.100||31/07/2023|
|EU000A1U9803||European Stability Mechanism||2.125||20/11/2023|
|EU000A1U9951||European Stability Mechanism||0.125||22/04/2024|
|EU000A1U9894||European Stability Mechanism||1.000||23/09/2025|
|EU000A1U9944||European Stability Mechanism||0.500||02/03/2026|
|EU000A1Z99B9||European Stability Mechanism||0.750||15/03/2027|
|EU000A1Z99F0||European Stability Mechanism||0.750||05/09/2028|
|EU000A1U9969||European Stability Mechanism||1.125||03/05/2032|
|EU000A1Z99D5||European Stability Mechanism||1.200||23/05/2033|
|EU000A1U9928||European Stability Mechanism||1.625||17/11/2036|
|EU000A1U9977||European Stability Mechanism||0.875||18/07/2042|
|EU000A1U9902||European Stability Mechanism||1.750||20/10/2045|
|EU000A1Z99A1||European Stability Mechanism||1.800||02/11/2046|
- More information: [email protected]